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- Worldcoin is hoping that people will decide to get the scan. Bloomberg reports that it has scanned 450,000 people in approximately 20 nations. They should attract a lot more attention with another $100 million.
- The monies, which have yet to be validated by Worldcoin, are desperately required. Bloomberg reported just last week that it had put a halt to activity in seven of the roughly 20 nations where it was active after local contractors left or rules made doing business untenable.
- While most cryptocurrencies may operate across borders with no government involvement, Worldcoin isn’t your standard cryptocurrency. It uses the Orb, a gadget that scans irises to ensure that they’re both real and haven’t already been scanned, to verify that a person is qualified for the free tokens.
That’s what Worldcoin, the iris-scanning crypto project, is likely to say amid a rumour that it’s in the midst of a massive $100 million funding round that will push its valuation to $3 billion. The round includes money from venture capital firms Andreessen Horowitz and Khosla Ventures, according to a report in The Information citing unidentified sources.
Seven Of The Roughly 20 Nations Where It Was Active
The business, which emerged from stealth status in October, received a Series A fundraising round led by Andreessen Horowitz, with participation from Digital Currency Group, Coinbase Ventures, Multicoin, FTX founder Sam Bankman-Fried, and LinkedIn co-founder Reid Hoffman.
Worldcoin is an Ethereum-based token co-founded by Sam Altman, the former head of Silicon Valley startup Y Combinator, with the goal of distributing something like to a universal basic income to everyone on the planet. It’s a cousin to other crypto projects like Circles and Proof of Humanity, all of which are working on similar causes.
The monies, which have yet to be validated by Worldcoin, are desperately required. Bloomberg reported just last week that it had put a halt to activity in seven of the roughly 20 nations where it was active after local contractors left or rules made doing business untenable. It also started requiring smartphone sign-ups, restricting access in nations where flip phones are still common.
While most cryptocurrencies may operate across borders with no government involvement, Worldcoin isn’t your standard cryptocurrency. It uses the Orb, a gadget that scans irises to ensure that they’re both real and haven’t already been scanned, to verify that a person is qualified for the free tokens.
Scanned 450,000 People In Approximately 20 Nations
While the firm claims that no other personal information is necessary to be scanned the image is translated into data and then discarded privacy icon Edward Snowden argues that the hashes of those scans are retained, which might possibly be abused. He tweeted in October, Hashes that match future scans. Don’t keep track of people’s eyes.
Worldcoin is hoping that people will decide to get the scan. Bloomberg reports that it has scanned 450,000 people in approximately 20 nations. They should attract a lot more attention with another $100 million.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
